分析師警告稱，隨著比特幣兌黃金走強，其價格可能會觸及 97,000 美元

比特幣（BTC）最近幾天出現了令人難以置信的上漲，突破了 89,000 美元，並升至 90,000 美元大關。

Bitcoin (BTC) price action has been impressive over the past week, surging past the $89,000 level and eyeing the $90,000 mark. As BTC rallied, investors anticipated further gains; however, analysts at QCP Capital highlighted a potential correction.

過去一周，比特幣 (BTC) 的價格走勢令人印象深刻，飆升至 89,000 美元大關，直指 9 萬美元大關。隨著比特幣上漲，投資者預期會進一步上漲；然而，QCP Capital 的分析師強調了潛在的調整。

According to the analysts, Bitcoin futures-based returns hit a seven-month peak, and leveraged positions also increased. Interestingly, futures-based returns didn’t last very long historically, and such rapid increases were followed by corrections, the analysts noted.

分析師表示，基於比特幣期貨的回報率創下七個月以來的新高，槓桿部位也增加。有趣的是，分析師指出，從歷史上看，基於期貨的回報並沒有持續很長時間，如此快速的成長之後就會出現調整。

With Bitcoin hovering just below the crucial $90,000 level, the analysts noted that the basis rate at the end of November was over 18%.

分析師指出，由於比特幣徘徊在略低於 9 萬美元的關鍵水平，11 月底的基準利率超過 18%。

"High leverage and high 7-month basis (suggesting any pullbacks will be bought aggressively, especially by leveraged longs).

「高槓桿率和高 7 個月基差（表明任何回檔都會被積極買入，尤其是槓桿多頭）。

While Bitcoin remains structurally bullish, we caution against any pullbacks, particularly from leveraged liquidations."

雖然比特幣在結構上仍然看漲，但我們警告不要出現任何回調，尤其是槓桿清算。

The analysts warned of a pullback due to leveraged positions but added that there was strong demand in the options market, with key interest in expiry prices of $110,000 and $120,000.

分析師警告稱，槓桿頭寸將導致回調，但補充稱，期權市場需求強勁，主要關注者對到期價格為 110,000 美元和 120,000 美元。

Bitcoin Could Hit $97,000

比特幣可能觸及 97,000 美元

In a recent analysis, QCP Capital highlighted how Bitcoin cemented the "digital gold" narrative with a 30% rally after the election.

在最近的分析中，QCP Capital 強調了比特幣如何在大選後以 30% 的漲幅鞏固了「數位黃金」的敘事。

According to the analysts, Bitcoin surged by 30% since the US elections, while gold dropped by 5%, bolstering BTC's role as "digital gold."

分析師表示，自美國大選以來，比特幣飆升了 30%，而黃金則下跌了 5%，支撐了 BTC 作為「數位黃金」的角色。

With demand for Bitcoin intensifying and calls for more upside potential, the analysts suggested that a 1% reallocation from gold to Bitcoin could propel BTC to $97,000.

隨著對比特幣需求的增強以及對更大上漲潛力的呼聲，分析師表示，從黃金到比特幣的 1% 重新配置可能會將 BTC 推升至 97,000 美元。

"Recently, capital has been reallocated from traditional safe havens like gold to BTC. Currently at $1.73 trillion, Bitcoin’s market cap recently surpassed silver’s but remains well below gold’s $17.5 trillion.

「最近，資本已從黃金等傳統避風港重新配置到比特幣。目前，比特幣的市值為 1.73 兆美元，最近超過了白銀，但仍遠低於黃金的 17.5 兆美元。

Even if 1% of the capital flowing from gold into BTC, it could push Bitcoin to around $97,000."

即使 1% 的資金從黃金流向 BTC，也可能將比特幣推至 97,000 美元左右。